Hitachi makes $5 bln offer for full control of industrial gear unit
Share:
TOKYO (Reuters) - Hitachi Ltd said on Friday it would spend 531.1 billion yen (3.68 billion pounds) to take full control of listed industrial equipment unit Hitachi High-Technologies through a tender offer.The Japanese industrial conglomerate is realigning its group portfolio as the government has pointed to corporate governance issues regarding dual listings of parents and subsidiaries.Hitachi will offer 8,000 yen a share for the firm, in which it now owns a stake of 51.73%. Shares of Hitachi..